There are industries that seeing benefits in the deterioration of the kwacha against the dollar. These are industries that see exchange gains adding steroids to the bottom line. Oil marketing is one of them thanks to the cost pass-through mechanisms that are in place through the regulator, ERB. Puma recently published their half-year results for […]
Quoted company on the Lusaka Securities and Exchange, CEC Africa, has announced that a mandatory offer has been made by BP Investments Limited for purchase minority shareholders stake in the company that has operations in Nigeria. “Shareholders of CEC Africa Investments Limited will be aware that on 17 June 2020, BP Investments Limited purchased shares […]
Embattled energy company, CEC PLC, has indicated to shareholders that it expects its earnings per share to be lower at half-year of the current financial year due to debts owed by a former mining customer. “In accordance with Section 3.4(b) of the Lusaka Securities Exchange Listings Requirements (“LuSE Listings Requirements”), the Board of Directors of […]
The letter of demand that was issued to CEC Africa has been withdrawn following an agreement being reached with Zambia Energy Corporation, according to a statement from CEC Africa. “Shareholders of the Company are referred to the Cautionary Announcement first issued on 17 July 2020 in which Shareholders and the market were advised that the […]
CEC Africa has been served a letter of demand from Zambia Energy Corporation Limited of K15.40 million, according to a statement from the Company. “CECA shares are traded on the second-tier market (referred to as the Quoted Tier) of the Lusaka Securities Exchange (“LuSE”). In compliance with the disclosure requirements under the Act, CECA hereby […]
Barely a fortnight after publishing its 2019-year end financial results which signaled the erosion of value due to impairments caused by its biggest mining customer, Copperbelt Energy Plc (CEC) has announced the end and non-renewal of its power supply contract with Konkola Copper Mine (KCM). “In accordance with Section 11.40 of the Lusaka Securities Exchange […]
Copperbelt Energy Plc has signaled to the market that it expects to record lower earnings for the financial year 2019 due to unpaid receivables from one of its largest mining customers, according to a statement from the company. “In accordance with the Lusaka Securities Exchange Limited Listings Requirements, the Board of Directors of the Copperbelt […]
CEC Plc has notified shareholders that the arbitration matter regarding outstanding amounts owed to ZESCO Limited is still ongoing despite the epilogue of the BSA on 31st March 2020, according to the latest SENS announcement from the company. “Shareholders are referred to the cautionary announcement, dated 27th September 2019, issued by the Board of Directors […]
31 March 2020 was a day of high expectations in the energy and mining sectors. A big announcement which potentially would change the complexion of the two sectors in Zambia was being awaited. The proclamation that came however was received with mixed reactions by the players in the two sectors and the general public. Zesco […]
The Lusaka Securities and Exchange-listed supplier of electricity to the Copperbelt mining companies, CEC Plc, has announced the end of its long term power purchase agreement with the national electricity utility effective 31st March 2020 bringing an end to a 23-year-old contract that was signed at the pinnacle of the mining companies privatization, according to […]
Energy
